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I have loss carryforward from prior years that I need to show on form 8285, lines 3b & 3c. This is coming from a partnership K1 that no longer exists, only the loss carryforwards remain. HELP!
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If the partnership terminated or was sold, most, most likely those losses should have been used in the termination year,
The more I know the more I don’t know.
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No the loss was not used. Still working with Lacerte to figure it out, been through 3 different support people so far...... Very frustrating!
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"...No the loss was not used. "
You are missing Susan's point that if the partnership was final in the prior year, the losses *should* have been used then.
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I wasn't clear, the partnership interest sold at a loss
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Sold in the prior year? Then THAT year is when the suspended losses should have been taken.
